Advisory Alpha LLC Buys New Shares in Coterra Energy Inc. $CTRA

Advisory Alpha LLC bought a new position in shares of Coterra Energy Inc. (NYSE:CTRA) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 7,888 shares of the company’s stock, valued at approximately $200,000.

Other institutional investors have also made changes to their positions in the company. Cornerstone Planning Group LLC boosted its position in Coterra Energy by 175.6% during the first quarter. Cornerstone Planning Group LLC now owns 871 shares of the company’s stock worth $25,000 after purchasing an additional 555 shares during the period. Raleigh Capital Management Inc. boosted its position in Coterra Energy by 463.5% during the first quarter. Raleigh Capital Management Inc. now owns 896 shares of the company’s stock worth $26,000 after purchasing an additional 737 shares during the period. Bogart Wealth LLC bought a new position in Coterra Energy during the second quarter worth $26,000. REAP Financial Group LLC boosted its position in Coterra Energy by 190.1% during the second quarter. REAP Financial Group LLC now owns 1,108 shares of the company’s stock worth $28,000 after purchasing an additional 726 shares during the period. Finally, Banque Cantonale Vaudoise bought a new position in Coterra Energy during the first quarter worth $29,000. 87.92% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on CTRA. Susquehanna reduced their price objective on shares of Coterra Energy from $32.00 to $31.00 and set a “positive” rating for the company in a research report on Monday, October 20th. Mizuho reduced their price objective on shares of Coterra Energy from $36.00 to $33.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Wells Fargo & Company lifted their price objective on shares of Coterra Energy from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. Piper Sandler reduced their price objective on shares of Coterra Energy from $39.00 to $38.00 and set an “overweight” rating for the company in a research report on Tuesday, October 21st. Finally, Morgan Stanley reduced their price objective on shares of Coterra Energy from $29.00 to $28.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 14th. Sixteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $32.60.

Coterra Energy Stock Up 0.2%

NYSE CTRA opened at $23.39 on Friday. The company has a current ratio of 1.13, a quick ratio of 1.08 and a debt-to-equity ratio of 0.29. Coterra Energy Inc. has a 1-year low of $22.33 and a 1-year high of $29.95. The company has a 50 day moving average of $23.76 and a 200-day moving average of $24.46. The company has a market cap of $17.85 billion, a price-to-earnings ratio of 11.19, a PEG ratio of 0.36 and a beta of 0.29.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Monday, August 4th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.02). Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The company had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same period in the prior year, the company earned $0.37 EPS. The company’s quarterly revenue was up 54.6% compared to the same quarter last year. On average, equities research analysts expect that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Thursday, August 14th. Coterra Energy’s dividend payout ratio is 42.11%.

Coterra Energy Profile

Coterra Energy Inc, an independent oil and gas company, engages in the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States. The company’s properties include the Marcellus Shale with approximately 186,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; Permian Basin properties with approximately 296,000 net acres located in west Texas and southeast New Mexico; and Anadarko Basin properties with approximately 182,000 net acres located in Oklahoma.